SAIL to go ahead with expansion plans

SAILDespite current economic slump, Steel Authority of India Limited (SAIL) has announced that it envisages pumping Rs 540 billion in expanding the saleable steel production from 13 million tons to 24.5 million tons.

According to the sources, the expansion will involve an investment of Rs 540 billion with a debt-equity ratio of 1:1.

The sources further revealed that the conglomerate plans to take the capacity to 60 million tons by fiscal 2020.

Scrip of Steel Authority of India closed (on 26 Nov, Wednesday) at Rs 68, up 8.10 percent on National Stock Exchnage (NSE). The total volume of shares traded was
11,960,100 at the NSE.